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Saker Nusseibeh joins Banking Standards Board

The Banking Standards Board today (Monday) announced the appointment of Saker Nusseibeh, CEO of Hermes Investment Management, to its Board.

Announcing the appointment, Dame Colette Bowe, Chairman of the Board, indicated that Mr Nusseibeh will join in September and will help to develop the BSB’s work with investors, in particular on identifying how banks can better assess and communicate the effectiveness of their plans to improve conduct and competence.

Commenting on Mr Nusseibeh’s appointment, Dame Colette said: “Investors are in pole position when it comes to strengthening banking reputations as bank boards will always pay attention if they become dissatisfied.

“We are particularly delighted to welcome Saker to the Board as his extensive investment experience will help the BSB work effectively, alongside the investor community and banks, to identify the most reliable data on which to base critical performance judgements.”

Mr Nusseibeh added: “Asset managers are the agents for the owners of Banks, representing the shareholdings of millions of British pensioners. The Global Financial Crisis damaged both consumer and industry confidence in the banking sector, which we must now work to rebuild. I am honoured to represent the investment community and look forward to working with my fellow Board members in the autumn.”

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Saker NusseibehCEO, Hermes Investment ManagementSaker is Chief Executive of Hermes, chair of its Executive Committee and an Executive Board Director. Saker was appointed CEO in May 2012, having been acting CEO since November 2011. Saker joined the firm in June 2009 as Head of Investment and Executive Board Director. He is responsible for leading the firm’s growth strategy and ensuring that Hermes continues to deliver excellent long-term investment performance, responsibly. Under his leadership, Hermes has achieved outstanding year-on-year growth in sales, revenues and profitability, while contributing widely to the debate about how to improve the contribution of financial services to society. Critically, long-term investment performance has remained at outstanding levels during his tenure.
Prior to joining Hermes, Saker was Global Head of Equities at Fortis Investments USA, having initially been appointed to the firm as CIO Global Equities in 2005. Before this he was CIO Global Equities and Head of Marketing for SGAM UK. This role followed SGAM’s acquisition of Trust Company of the West (TCW), where Saker was Managing Director, running global and international strategies, as well as managing TCW’s London office. He started his career at Mercury Asset Management in 1987. Read all articles
by Saker Nusseibeh